194. Editorial Note
On February 18, President Eisenhower sent the Congress a National Advisory Council on International Monetary and Financial Problems report on the International Development Association. (H. Doc. 345, Eighty-sixth Congress, Second Session) The President recommended in his transmittal letter that Congress enact legislation authorizing U.S. participation in the Association and providing funds for the U.S. subscription to it. He emphasized again the need for free world industrialized nations to promote economic progress in underdeveloped countries. For text of the letter, see Public Papers of the Presidents of the United States: Dwight D. Eisenhower, 1960–61, pages 199–201.
A subcommittee of the House Committee on Banking and Currency held hearings on Eisenhower’s proposal March 15–17. Under Secretary of State Dillon testified before the subcommittee on March 17; for text of his statement, see Department of State Bulletin, April 4, 1960, pages 529–531. The Senate Foreign Relations Committee held its hearings on the proposal on March 18 and 21.